Corporate Mar 5, 2013
New Delhi: ONGC has retained the top position in the coveted list of 10 most profit-making PSUs, while BSNL was the biggest loss-making state-run company in 2011-12, according to a government survey.
ONGC, the country's largest oil and gas producer, earned a net profit of Rs 25,122 crore in 2011-12. BSNL, on the other hand, suffered losses of Rs 8,850 crore in the same period, replacing Air India as the biggest loss-making PSU.
Power major NTPC is the second biggest profit-making state-run company, the same position as in 2010-11 survey. The world's largest coal producer Coal India jumped to third position in 2011-12 from seventh rank in the previous survey, pushing Indian Oil Corporation (IOC) down to the seventh position, according to the Public Enterprises Survey.
In 2010-11, IOC was at the third position. Largest iron-ore producer NMDC was fourth, while Maharatna company BHEL ranked fifth. Southern Eastern Coalfields Ltd made entry into the coveted club of top 10 profit-making firms at sixth position.
Mahanadi Coalfields Ltd, GAIL (India) Ltd and Steel Authority of India Ltd took eighth, ninth and tenth positions, respectively. Besides BSNL and Air India, MTNL, Hindustan Photo Films Manufacturing, Hindustan Cables, Air India Charters Ltd and Fertilizer Corporation of India, are the biggest loss-making companies.